Quick Summary
Online gaming companies in India are awaiting clarity on the issue of repetitive taxation. The GST Council has announced a 28% GST on the turnover of online gaming companies, casinos, and horse racing companies. However, there is concern that this could lead to repetitive taxation, as gamers often use their winnings to play other games. This could mean that gamers could be taxed up to 50-60% on their winnings. The online gaming industry has raised this issue with the government, and is awaiti
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FAQ :
The GST Council has announced a 28% GST on the turnover of online gaming companies.
The primary concern is repetitive taxation, where gamers could be taxed on their winnings and then again when using those winnings to play other games.
Gamers could potentially face a tax burden of up to 50-60% on their winnings due to repetitive taxation.
Repetitive taxation could lead to increased costs for gamers, reduced investment in the industry, and potential job losses.
The government has acknowledged the concerns and stated an intention to keep the GST simple and less complicated, but further clarification is awaited.
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